Canadian Employment declines in January

The Chief Economist of the Canadian Chamber of Commerce reported the last few months of 2012 had resilience with the economy creating jobs. Employment growth was ahead of the Canadian gross domestic product (GDP).
January 2013 employment data have indicated a slight retraction. Full time positions have experienced the most declines in both public and private sectors.
From an industry perspective, there were fewer workers in manufacturing and educational services (-21,600 and -30,900, respectively). About 18% of our local economy is based on processing and manufacturing, so we definitely are affected by these findings.
There were also of note, gains in construction based on the report, a positive for our community. About 11% of local industry is based in the construction sector. This sector also is one of the most visible, with home building and commercial developments cropping up in town.
I think the report is generally good for our community but the upcoming months will tell if this is a trend that will continue.


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